Cable rises to 1.2443 on above-forecast UK CPI data; 10.1% YY vs 9.8% f/c

1.2443 is six pips shy of Tuesday's peak (scaled on strong UK pay growth)

Asian session range was 1.2408-1.2430 (pre-UK inflation data release)

Tuesday's high is also 50% retracement of recent fall from 1.2545 to 1.2353

1.2545 was 10-month high last Friday. 1.2353 was Monday's one-week low

Hot UK CPI data is another boost for hawks advocating 25 bps BoE hike in May